Annual Review 2012 - Luxottica

MANAGEMENT REPORT
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growing at a pace that reflects an increase in travel by consumers who are willing to shop
while in areas of transit, such as airports. Sunglasses are the fastest growing category
compared to other travel retail product categories.
For a description of significant events after December 31, 2012 please refer to note 37 of
the footnotes of the consolidated financial statements as of December 31, 2012.
10. SUBSEQUENT
EVENTS
Articles 36-39 of the regulated markets applies to 43 entities based on the financial
statements as of December 31, 2012:
In particular the Group:
• applies to all the Extra European Union subsidiaries, internal procedures under which
it is requested that all Group companies release a quarterly representation letter
that contains a self-certification of the completeness of the accounting information
and controls in place, necessary for the preparation of the consolidated financial
statements of the parent;
• ensures that subsidiaries outside of Europe also declare in these representation letters
their commitment to provide auditors of the Company with the information necessary
to conduct their monitoring of the parent’s annual and interim period financial
statements;
• as set out in Part III, Title II, Chapter II, Section V of Regulation no. 11971/1999 and
subsequent amendments, makes available the balance sheet and income statement
of the aforementioned subsidiaries established in states outside the European Union,
used to prepare the consolidated financial statements.
11. ADAPTATION TO
THE ARTICLES 36-39
OF THE REGULATED
MARKETS
On January 23, 2013 the Group finalized the acquisition of the French company, Alain
Mikli International S.A.S.. In relation to the company’s extra-European subsidiaries, the
Group communicated to CONSOB the compliance plan pursuant to the provisions of art.
36-39 of the CONSOB market regulations. The Group will provide updates on the status
of the compliance in future financial information published based on CONSOB regulation
number 11971/1999.
As required by Section 2428 of the Italian Civil Code, it is reported that:
1. The Group carries out research and development activities in relation to production
processes in order to improve their quality and increase their efficiency. The costs
incurred for research and development are immaterial.
2. No atypical and/or unusual transactions, as defined by Consob Communication
6064293 dated July 28, 2006, were undertaken during 2012.
3. The information required by Section 123-bis par.1 of Italian Legislative Decree 58
dated February 29, 1998, is disclosed in the corporate governance report forming an
integral part of the annual financial report.
4. The Company is not subject to direction and coordination by others, as discussed in
12. OTHER
INFORMATION